If you realize both parties in Washington think that our money is theirs and you trust them to do the wrong thing, this list is for you.
If you think there is a Santa Claus that has some magic easy cure for the economy; someone who is going to get elected in Washington and fix everything just by cutting your taxes, investing (more government spending) a few trillion more we don't have and will never have, and who will just command some countries to lower their prices and others to raise their prices all to suit your best interests, then this list is not for you.
You can read past posts by clicking on : schifflist , I try to tag all relevant threads with the keyword : schifflist.
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The Austrian Economics School’s Commandments plus :From : link
1) You cannot spend your way out of a recession
2) You cannot regulate the economy into oblivion and expect it to function
3) You cannot tax people and businesses to the point of near slavery and expect them to keep producing
4) You cannot create an abundance of money out of thin air without making all that paper worthless
5) The government cannot make up for rising unemployment by just hiring all the out of work people to be bureaucrats or send them unemployment checks forever
6) You cannot live beyond your means indefinitely
7) The economy must actually produce something others are willing to buy
8) Every government bureaucrat should keep the following motto in mind when attempting to influence the economy: “First, do no harm!”
9) Central bank-supported fractional reserve banking is an economically distorting, ethically questionable activity. In particular, no government should ever do anything to save any bank from the full consequences of a bank run, no matter what the short-term consequences.
10) Gold is God’s money.
Add mine:
1) Businesses don't hire workers just because of demand for products or services, they hire because it makes them money. Sorry to have to state the obvious.
2) Government spending without taxing is still redistribution
3) Taking one man's money and giving it to another is not a job.
4) Paul Krugman and Bernake have been wrong about everything, as well as the other best and brightest Keynesian's who have been fixing our economy for over a decade.
5) Republicans in the minority (esp out of the White House) act like Republicans, in the majority they act like Democrats .
Equity bubble rules:
1)If something goes up too fast, it is going down faster,
2) By the time it looks like everybody is getting rich, it’s too late, stay out!
3) To get rich you have to get in early start of recovery and get out at the first really 'bad' news, and ignore the experts that claim that they will stop the next crash(our buddy Bernake.).
4) Don't invest money you will probably need, or worse money you don't really have.
Recent reports are that banks, businesses and private individuals are sitting on mountains of cash that is not being spent. What’s with this?
ping
ping
The low interest rates are bad in other ways too. Who wants to take risk and make a loan for almost nothing? It might be better to just sit on cash and collect from the IOR program and wait until rates rise enough to make loaning money more worth while.
Funny. Your equity bubble rules apply to all bubbles... including gold.
Ultra low rates remove the Fed’s ability to play with the market much.
To me, as a business major, that’s bad because they can no longer act like a regulator between depression and boom.
That’s essentially what Japan has done forever and it’s failed there and it’ll put us on a similar path.
Peter Schiff is NO ECONOMIC GENIUS as he claims, and many of his predictions are totally bogus!
http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html ,
“ For one, Mike Shedlock of Mish’s Global Economic Trend Analysis gave an incredibly detailed review of Schiff’s track record in an article titled, “Peter Schiff was Wrong.” To get a little flavor of the piece, here is an excerpt:
12 Ways Schiff Was Wrong in 2008
•Wrong about hyperinflation
•Wrong about the dollar
•Wrong about commodities except for gold
•Wrong about foreign currencies except for the Yen
•Wrong about foreign equities
•Wrong in timing
•Wrong in risk management
•Wrong in buy and hold thesis
•Wrong on decoupling
•Wrong on China
•Wrong on US treasuries
•Wrong on interest rates, both foreign and domestic”
http://investingcaffeine.com/2009/09/07/the-emperor-schiff-has-no-clothes/
http://seekingalpha.com/article/106824-being-wrong-for-five-years-makes-peter-schiff-right-now
” Now, had you listened to Peter in 2002, 2003, 2004, 2005, 2006 or even 3/4 of 2007, you lost your shirt. Had you placed bets based on Schiff’s market calls, you lost everything you wagered.
The S&P (.INX) went from 1054 in May of 2002 (the date of the interview) to 1561 in Oct. 2007, a 48% gain and the Dow (.DJI) rose 40%.
Banking stocks, the primary victim of the housing bust, went up (JP Morgan (JPM) 36%, Bank of America (BAC) 41%, Wells Fargo (WFC) 39% , Wachovia (WB) 31% and American Express (AXP) 51%) during that time frame (dividends excluded which would dramatically add to results). “”
ECON 101
When you invest in the firm that is the economic competitor to your own family, and your family does poorly, and their competitor does well, and you KEEP investing in your family’s competitor, YOU ARE PUTTING YOUR FAMILY OUT OF WORK!
Schiff doesn’t invest a SINGLE PENNY in AMERICA!!!
pro-immigration and said that there are too many jobs in the US we NEED to let in immigrants???
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
This is SCHIFF in his own words!
PETER SCHIFF IS ACTIVELY INVESTING IN FOREIGN COMPETITOR NATIONS THAT ARE PUTTING AMERICANS OUT OF WORK!!!
Here is a link to his investment company and their business dealings from Google
http://www.google.com/search?sourceid=navclient&ie=UTF-8&rlz=1T4RNTN_enUS381US381&q=Schiff+%2b+pacific
http://blogs.courant.com/rick_green/2009/10/peter-schiff-arrives-give-me-m.html
Why do the Ron Paul guys support gay marriage?
http://www.queerty.com/ron-paul-on-gay-marriage-20071210/
http://www.schiffforsenate.com/index.php?q=news/constitutional-candidates-congress
Schiff’s own website endorses Adam Kokesh
http://www.youtube.com/watch?v=nDttx64zk4I
SCHIFF himself admits he believes the Iraq War is a QUAGMIRE in 2009!!
http://www.freespeechmonster.com/?p=103
Schiff has said this many times
http://peterschiffsays.com/defense.htm
Aug 7, 2009, Iraq is a quagmire
http://www.youtube.com/watch?v=P9t741ewbGA
Schiff blamed Iraq on bankers? Not on Saddam?
http://www.youtube.com/watch?v=zo81QDSuixk
What the Tea Parties are not telling you about Peter Schiff:
Libertarians need to infiltrate the GOP
VIDEO of Schiff saying just that!
http://www.youtube.com/watch?v=3ncLTFoTFa8
http://belowthebeltway.com/2009/06/02/peter-schiff-libertarians-need-to-infliltrate-the-gop/
http://www.facebook.com/note.php?note_id=110955225375
http://www.campaignforliberty.com/blog.php?view=19285
http://www.godlikeproductions.com/forum1/message808505/pg1
http://answers.yahoo.com/question/index?qid=20090707200009AAzSQfB
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
Peter Schiff repeating talking points of the lunatic left, listen yourself. He says in 2009 that Iraq is a QUAGMIRE when we already won!! He blames the war on bankers and whoever, and not a word about blaming it on terrorists! listen yourself, Schiff repeats left wing talking points to his radio audience about the Iraq war!
http://www.youtube.com/watch?v=zo81QDSuixk
Peter Schiff has made open statements that are quite like the statements of the anti-war leftists, to include the OTHER Ron Paul endorsed candidates Rand Paul and Adam Kokesh
http://www.google.com/search?hl=en&source=hp&q=schiff+%2B+isolationist&aq=f&aqi=g10&aql=&oq=&gs_rfai=
Peter Schiff is pro-choice on abortion
SCHIFF’S OWN WEBSITE CONTAINS AN ENDORSEMENT FOR KOKESH WHERE KOKESH IS NAMED AS AN ANTI-WAR PROTESTER
http://schiffforsenate.com/index.php?q=news/constitutional-candidates-congress
Adam Kokesh
Adam Kokesh is best known as an Iraq War veteran who returned opposed to the war and was a keynote speaker at Ron Paul’s “Rally for the Republic” that competed with the Republican National Convention in the summer of 2008.
Peter Schiff is pro-choice on abortion
http://www.youtube.com/watch?v=nDttx64zk4I
with respect to his personal feelings, he would not make it illegal, women have a right to abort, he is against 3rd trimester,
BUT FIRST TRIMESTR OR SECOND ONE ITS OKAY
Hear it in his own words
pro-immigration and said that there are too many jobs in the US we NEED to let in immigrants???
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
This is SCHIFF in his own words!
video of Peter Schiff saying that LIBERTARIANS must infiltrate the Republican Party
http://www.youtube.com/watch?v=3ncLTFoTFa8&playnext_from=TL&videos=gKm7t4j9Wgc
http://www.youtube.com/watch?v=3ncLTFoTFa8
http://www.ustream.tv/recorded/1583738
This second link is the full 2 hours. You cant download it directly, I tried, but hey, you can record it! :)
Peter Schiff appears at a Rand Paul/Adam Kokesh/Peter Schiff fundraiser
http://www.youtube.com/watch?v=AYwb_P-ssK0
Rand Paul, Adam Kokesh, Peter Schiff, and others holding a fundraiser at Webster Hall in New York.
http://www.randpaul2010.com/2009/08/rand-paul-at-webster-hall/
http://www.wallstreetstocks.net/rand-paul-adam-kokesh-peter-schiff-fundraiser
http://www.youtube.com/watch?v=AYwb_P-ssK0&feature=player_embedded
http://www.randpaul2010.com
http://www.schiffforsenate.com
http://www.kokeshforcongress.com
Read it for yourself, folks, all three of these candidates are the type of people that this organization supports and even wants to send money to!
http://www.google.com/search?q=schiff+kokesh+site:http://www.stormfront.org&hl=en&lr=&filter=0
The RAND Paul Money Bomb! Help Elect Rand Paul to U.S.
http://www.stormfront.org/forum/showthread.php?t=624677
Stormfront!!!!
Peter Schiff for Senate Video Blog July 14 2009
http://www.youtube.com/watch?v=nlXqlz31SXk
Ron Paul, Adam Kokesh at Freedom Fest in Las Vegas July 2009
http://www.youtube.com/watch?v=D9oiTQD7Cms
Schiff attended this same conference hosted by Ron Paul and is in this video in the early part
Rand Paul amp Adam Kokesh Take Over The Interwebs
http://www.youtube.com/watch?v=PE9gVeykPAU
GOE Site for Adam Kokesh
http://americanpatriotsagainstkokesh.ning.com/
Adam Kokesh for Congress
http://www.kokeshforcongress.com/posts/whisper-campaigns
Ron Paul Supports Adam Kokesh
http://www.campaignforliberty.com/blog.php?view=20098
This Aint Hell..re Oathkeepers..Adam Kokesh.
Note the connection between Oathkeepers & Ron Paul.
http://thisainthell.us/blog/?p=14586
Yeah?
Wadduh yuh mean?
/S
Perhaps they are recognizing that the inflationary forces of higher energy/gas and food has decreased margins in many a household budget. With a personal credit bubble of those near or exceeding zero margins, a climbing interest rate would quickly push many into bankruptcy.
Isn’t it just absurd that they think that lowering the interest rates boosts lending and thereby boosts the economy, when all the lending is going back to the government and not the private sector? Are they that short-sighted and naive?
>>>>...interest rate levels are best determined by the freely interacting forces of supply and demand.
you mean commissar beranke should be setting interest rates?
/s